Tech

Tesla files to divide shares 3 by 1

Tesla has just submitted its annual trusted statement to the SEC and has indicated that it plans to split the shares three to one, and that board member Larry Ellison has no plans to run for re-election.

Shares of Tesla rose more than 1% after the end of the hour, closing at $ 696.69 on Friday.

In a statement, the company wrote about the proposed division of shares: “Our success depends on attracting and retaining great talent,” and that in this Tesla helped “highly competitive compensation packages” that offer each employee the opportunity to receive equity. “We believe that falling stocks will help bring down the market price of our common stock so that our employees have more flexibility in managing their capital.”

Separation of stocks is cosmetic and may mean that small investors feel they can afford stocks, but these investors are meager compared to large institutions. Many brokerage firms already offer investors fractional trading, allowing small investors to buy a piece of seemingly expensive stocks.

Elon Musk during an event at SpaceX headquarters in Hawthorne, California, USA, on Thursday, October 10, 2019.

Bloomberg / Getty

In 2022, trusted documentation, the business of electric vehicles and renewables, also revealed that board member Larry Ellison currently owns 1.5% of Tesla. Allison plans to resign as a member of Tesla’s board of directors, but the statement did not say who could replace him.

The statement also said that Tesla CEO Elon Musk currently owns 23.5% of Tesla and Vanguard 6% of Tesla. Musk has sold much of his Tesla holdings since late 2021, in part to increase his stake in Twitter, the social media giant he has agreed to buy for about $ 44 billion.

In August 2020, Tesla announced a similar five-to-one share split.

In thirteen different proposals offered by shareholders, Tesla is invited to explore and disclose more about its efforts to combat harassment and discrimination, lobbying practices, supply chains and the workforce, as well as details on its own water use and the impact and risks of water-related climate. . .

The company plans to hold its annual online shareholders meeting with a limited number of shareholders invited in person to the new Tesla plant in Austin, Texas, on August 4, 2022.

Tesla files to divide shares 3 by 1

Source link Tesla files to divide shares 3 by 1

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